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EquityTrader

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EquityTrader

Re: charr992000 post# 17446

Thursday, 08/18/2011 1:58:40 PM

Thursday, August 18, 2011 1:58:40 PM

Post# of 60126
$1500 per ounce in profit...

Gold is now $1824/ounce.

"In its latest annual survey of the gold market, GFMS Ltd reports that global mine production cash costs rose by $45/ounce, or 17%, year-on-year to $317/ounce... Global output was down by just over 3% to 2,471.1 tonnes from 2,550.5 tonnes the previous year, to register the lowest since the 1996 level of 2,375 tonnes. Looking back over the past ten years, the peak year for production was 2,645.0 tonnes in 2001, a range of just 270 tonnes or 11%."

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